U.S. stock futures climbed Monday morning as technology stocks began recovering from a bruising week and the U.S. and Iran agreed to halt hostilities over the Strait of Hormuz.
A weekend of back-and-forth military exchanges between Washington and Tehran had put broader peace negotiations at risk
Michael M. Santiago / Getty Images
U.S. stock futures climbed Monday morning as technology stocks began recovering from a bruising week and the U.S. and Iran agreed to halt hostilities over the Strait of Hormuz.
Futures tied to the Dow Jones Industrial Average were up 188 points, a gain of 0.4%, with S&P 500 contracts adding 0.8% and Nasdaq $NDAQ 100 contracts climbing 1.2%. Among individual movers before the open, Arm shares were up 2.3% and Marvell was 1.6% higher. Micron $MU Technology ticked up 0.7% and Intel $INTC added 1.4%.
The gains follow a difficult stretch for tech. Tech megacaps bore the brunt of last week's selloff: Nvidia $NVDA and Google $GOOGL each gave up more than 8%, and Meta $META, Apple $AAPL, and Amazon $AMZN all declined by more than 4%. The Nasdaq Composite finished the week down 4.6%, while the S&P 500 lost nearly 2%. The Dow managed a 0.6% gain, insulated by its lighter tech exposure, with Merck $MRK and Johnson & Johnson $JNJ posting advances of 13% and 11.5%, respectively.
A weekend of back-and-forth military exchanges between Washington and Tehran had put broader peace negotiations at risk, but the two countries reached an agreement Sunday to halt fighting and reopen the Strait of Hormuz to commercial shipping. U.S. strikes targeted Iranian missile and drone storage locations along with coastal radar sites, and President Donald Trump followed with a Truth Social post warning that Iran faced annihilation.
Oil prices moved higher as traders assessed whether the pause would hold. International Brent crude climbed to around $72 to $73 a barrel, while West Texas Intermediate futures rose to roughly $70 a barrel.
A plan to break Comcast $CMCSA into two separate publicly traded entities — one for its media assets and one for its technology operations — sent the company's shares up 25% before the bell. The company said the process is expected to take roughly a year to complete.
Shares of SpaceX were poised for premarket gains as well, following last week's announcement that the Nasdaq exchange will add the company to its 100-stock index as early as next month.
With June drawing to a close, monthly scorecards show the S&P 500 off 3% and the Nasdaq down more than 6% since the start of the month. The Dow has moved in the opposite direction, notching a gain of more than 1% over that stretch.
Update, June 30, 2026: U.S. and Iranian negotiating teams are expected in Doha this week for talks focused on managing the Strait of Hormuz and de-escalating tensions, though no formal meeting has been scheduled. President Trump is sending son-in-law Jared Kushner and envoy Steve Witkoff to lead the U.S. delegation. (per Reuters)
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